Watertown, WI Cost of Living

Watertown cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.

Displayed above is a general overview of the Watertown, WI cost of living index. The overall cost of living index in Watertown, WI is 99, which is 3% higher than the Wisconsin average and 1% lower than the national average. The cost of living index is created from the following categories: goods/services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). As you can see, goods/services and housing make up the majority of the overall cost of living index. Everyday goods and services can be a good indicator of the general cost of goods in a given city. In this case, the goods and services in Watertown, WI are 9% higher than the Wisconsin average and 6% higher than the national average.

Did you know?

The cost of living in Watertown is 3% higher than the Wisconsin average.

The cost of living in Watertown is 1% lower than the national average.

The cost of housing in Watertown is 20% lower than the national average.

Compare Watertown, WI Cost of living To Other Cities

Salary Calculator

I currently make 50,000This is how much you would need to earn in Price difference in compared to

Cost of living index

Goods & Services index

Groceries index

Health care index

Housing index

Transportation index

Utilities index

The salary calculator is meant to help you compare your salary in Watertown, WI to your potential earning power in another city. This can help you deduce what your salary would need to be in any given city in order for you to live the same lifestyle that you do in your current city. In other words, if you plan on moving to a city where the cost of living is higher than in Watertown, WI, you'll have to make more money in the new city in order to maintain the lifestyle you currently enjoy. To use the Watertown, WI salary calculator, simply input the new city, then move the adjustable slider to match your current income. Once you've selected your income, the calculator will determine if that income is sufficient to support your standard of living in the new city you entered. The calculator will also supply you with a rundown of living costs in the new city.

Median Income & Debt-To-Income Ratio

Median Income

Per Year

Per Month

Max Budget (28% DTI)

Max Budget (36% DTI)

Owners

$67,059

$5,588

$1,565

$2,012

Renters

$32,337

$2,695

$754

$970

How much of your monthly income goes to housing can tell you whether or not you can afford housing in Watertown, WI, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Watertown, WI homeowners have a median income of $67,059. Using that number, you will come up with a maximum of $1,565 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $32,337, which means there is a maximum of $754 to be spent on the costs of renting a home or apartment.

Wisconsin Sales Tax

State

General Sales Tax

With Max Surtax

Wisconsin

5%

6.75%

Wisconsin Income Tax

State

Income Tax (Low)

Income Tax (High)

Wisconsin

4%

7.65%

When considering the overall cost of living expenses in Watertown, WI, it's important to take into account the sales tax for Wisconsin, as well as the rate for income tax in Wisconsin. Goods and services sold to consumers in any state have some form of sales tax. Each state has its own tax code, which means that sales tax rates vary from state to state, ranging from over 7% in some states to as low as 0% in others. The maximum surtax for Wisconsin is 6.75%, and the sales tax in the state of Wisconsin is 5%. Alternatively, the tax imposed on your income by the state government is known as income tax. The rate for this tax also varies from state to state, and your rate is affected by your tax bracket, which is determined by your level of income. Income tax rates might be as high as 9%, down to as low as 0%. The range for income tax rates in Wisconsin starts from 4% and goes up to 7.65%.

Goods & Services

Item

Watertown

National avg.

Difference

Haircut

$18.22

$16.09

13.3%

Beauty Salon

$41.66

$37.33

11.6%

Toothpaste

$2.58

$2.45

5.4%

Shampoo

$1.01

$1.00

0.6%

Movie

$11.41

$10.28

11.0%

Bowling

$4.81

$4.93

2.5%

Groceries

Item

Watertown

National avg.

Difference

Ground Beef

$3.95

$3.80

3.8%

Fried Chicken

$1.77

$1.40

27.0%

Milk

$1.97

$2.01

1.9%

Potatoes

$2.25

$3.01

25.4%

Pizza

$9.77

$9.89

1.1%

Beer

$8.13

$8.90

8.7%

Health Care

Item

Watertown

National avg.

Difference

Optometrist

$60.83

$102.16

40.5%

Doctor

$182.00

$108.36

68.0%

Dentist

$101.89

$92.53

10.1%

Ibuprofen

$10.54

$9.28

13.6%

Lipitor

$429.85

$425.82

0.9%

Housing

Item

Watertown

National avg.

Difference

Home Price

$146,700.00

$184,700.00

20.6%

Avg. Mortgage Payment

$1,383.77

$1,202.44

15.1%

Apartment Rent

$770.00

$949.00

18.9%

Transportation

Item

Watertown

National avg.

Difference

Gasoline

$2.21

$2.24

1.3%

Tire Balancing

$58.00

$46.29

25.3%

Utilities

Item

Watertown

National avg.

Difference

All Electricity

$176.68

$165.96

6.5%

Phone

$29.99

$28.68

4.6%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.